Retirement

Health Savings Accounts are increasingly being positioned as part of a holistic retirement savings approach, with nearly half (46%) of organizations using HSA auto-enrollment, according to a PSCA survey.

These personalized, age-based platforms incorporate interactive tools and behavioral nudges, such as alerting plan participants to make catch-up contributions at age 50, as they gently steer participants towards retirement goals.

Younger workers are notably behind other age groups, with only 17% having saved between $5,000 and $50,000 – and employers have a critical opportunity to address the retirement readiness gap, says a new study.

A caregiver-friendly environment – group discussions that can provide emotional support and offer best practices and training classes, either in person or online - can help educate employees who might be new to the caregiver role.

Retirement plans in the workplace are shifting towards emotional and behavioral engagement as key factors for success, as advisors are realizing the importance of connecting with participants on a deeper level.

More than one-third of millennials, who've benefitted from auto-enrollment and auto-escalation, believe they won't get a dime of Social Security when they retire, so they're taking matters into their own hands.